Godrej to develop 1.35 acre in Mumbai

Godrej Properties has inked a development pact for a 1.35 acre in Chembur, Mumbai. The property is on the Sion-Trombay highway and has a development potential of around 1.5 lakh sq ft. The company will be undertaking the project through a joint venture with land-owner Bombay Footwear. Almost 85 per cent of the company’s total projects are being executed through the joint-development model. The proposed development is expected to provide revenues of around Rs 180 crore to the joint venture. At present, Godrej Properties has projects spread over 90 mn sq ft under construction, across 11 cities in India. Contact: Godrej Properties. Tel: 022-6651 0200. Fax: 022-2207 2044. Website: www.godrejproperties.com